Businesses added 200,000 jobs in July, most this year, ADP reports

Jim Puzzanghera

WASHINGTON -- Business hiring picked up steam this month, with private employers adding a stronger-than-expected 200,000 net new jobs for the biggest monthly gain of the year, payroll processing firm ADP said Wednesday.

The widely watched report also revised up its figure for June to 198,000 from the initial estimate of 188,000.

July job growth was the most since December, when the private sector added 209,000, and bodes well for Friday's government employment report.

Economists surveyed by Bloomberg News are expecting the Labor Department to report that the U.S. economy added a healthy 185,000 jobs this month, down from 195,000 in June. The unemployment rate is forecast to drop to 7.5% from 7.6%